September 12, 2012

Despite repeatedly pointing out the effective tax rate previously published was incorrect, the Big Spring City Council voted 6-1 Tuesday night to approve first reading of the levy in an effort to meet the state-mandated deadline for having the fiscal element in place.

The council â€” with District 4 Councilman Bobby McDonald the lone dissenter â€” approved first reading of the proposed tax rate of 86.5043 cents per $100 property valuation, a rate that will likely leave the municipality with a budgetary shortfall estimated at $130,000 to deal with in the coming year.